GoogleTube: We’re sharing profits with content producers

According to Chad Hurley, founder of YouTube, users who produce content for the massive online video sharing site will get a chance to share in the profits.

We are getting an audience large enough where we have an opportunity to support creativity, to foster creativity through sharing revenue with our users,” Hurley said. “So in the coming months we are going to be opening that up.

How exactly this will be executed is less clear, but speculation has been going around for some time now that Google’s acquisition of YouTube signalled the beginning of widespread ad supported video.

Hurley hopes that the revenue share program will provide incentive for users to produce better content. But if AdSense is any indicator, we’ll soon probably see a spike in spam video (spideo anyone?).